The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-11-13
FINANCE AND MINING
A Business Review of the
Week Just Closed,
IN REAL ESTATE QUARTERS.
From Many Mines-Trade in the East
Ore and BullIon-Our In
terests in Idaho
ESTATE QUARTERS.


There is but little to report of bust
ness matters during the week. Things
have moved quietly along, and it is safe
to say that merchants generally find
little cause for complaint. Shipments
OF wholesale dealers have been large,
and collections come in in fairly salts
factory manner.
Money is steady at 10 and 1, and
several important loans have been
negotiated during the week at the
former figures; gilt-edge security,
however, is required in all cases.
Real estate dealers are Kept busy
buying up, tying up or talking up all
the property they can lay their hands
on at anything like reasonable price.
One firm alone reported yesterday as
having on their hands over 1900 acres,
some OF which they have purchased
outright, while they hold eight months
options on the remainder. "And yet
we are not satisfied" said the dealer
I'VE want more and propose to get it,"
There is the complaint, however, and
it emanates from home dealers as well
as from visitors who have come here
with the intention of investing, that
property is held at entirely too high a
va uation. 81 was really astonished,"
said a Leadvllle man, who was seen at
the D. & R. 6. depot yesterday, Just
about to return home, lat the high
figures asked here for real estate. 1t is
true you have marvellous climate
far superior, to my fancy, than that of
any portion of Colorado, and city that
has prospects inferior to none other in
the country that know of, but still
insist that your people are not enhanc-
ing their own interests by the exhor-
bilant prices they place upon their real
estate. | came intending to purchase,
but have left no money here. How
ever, shall think over several offers
that have been made me, and may tele
graph the acceptance of some of them
in few day"
Thirty acres of land near Liberty
Park were sold during the week, and
several other large transactions are re-
ported, but dealers still fight shy Of
newspaper notoriety, so far as rates go,
at least. They merely report business
good.
Tradein the east is thus commented
on in the latest circular by R. G. Dun &
Co., of the mercantile agency: Not
withstanding slow collections in many
quarters and some failures of uppleas-
ant significance, the prevalent feeling is
that the most serious points OF danger
have been weathered, and that trade
and Industries have been warned in
season to cheek unsafe expansion. The
volume of business continues large,
whether judged by reports from many
centres, by bank exchanges, outside of
New York (Which exceed last years by
about l3 per cent?, or by railroad ton.
mage, which results in an increase of
about IL per cent. over last year IN re-
ported earnings.
In spite of an increase of $l3 900 600
in the currency in circulation during
October, following the increase of
S34 000,00 in September, prices do not
advance much. Stocks after some days
of recovery, show hesitation again, with
evidence that some foreign holders are
realizing Wheat has declined about 1
cent for the week; corn, &c. oats, &c.
coffee and lard, 1aC. each, and cotton
1-l6, while beef fails to an average of
81 Is, and hogs are 10c. lower. Oil has
been lifted Sc. by combination to shut
down, sugar shade by reports regard
ing the Trust, aud tin and copper by
speculative operations in the nature of
corners" Wool is still in buyers
favor; the government report states the
years production at 2S5 900 coo pounds,
but imports are large, and tariff revision
is expected by many to make coarse
wool free. a borax Trust is expected
to raise prices; rice reports are contra
dictory: buyers hold off IN sugar;
demand is lacking in tea. and irregular
IN coffee, and spice dealers require
patience. In general, better prices ap-
pear only where there are effective trade
combinations.
Long hesitation in the steel rail mar
ket is broken by lower prices, sales for
northwestern and New England de-
livery having been made on the basis of
S32 at mill. Pig iron is weaker at Pitts
burg, and offers of No. l southern at
strong. the architectural demand
slackens, and nails are duh, the signs
indicate some shrinkage in consump-
ton, just when new works are about to
increase the output largely. Nor is
Improvement seen in the wool manu-
facture; the demand continues lighter
than has been expected, and auctions of
light weight goods and hosiery occupy
ate ation.
A lumber failure in Wisconsin,
dragging down q st. Paul bank, some
cattle failures in the Northwest, per-
ceptibly affecting business, and the sud
den c. ssation of activity in real estate
in some quarters where large amounts
OF paper are outstanding, are signs
which justify prudence. There is some
complaint of slow collections at most
western points, and of labor troubles
at New Orleans. Money is still rather
close at Detroit and Kansas City, but
at most points easier or in ample sup
ply, though collections are inconveni-
emily slow at some places where cur
rency is abundant. Both eastern and
western manufacturers, in many
branches, find demand less than was
expected, and alike in eastern and
western cities narrow profits in trade
are repor ed.